AppFolio, Inc. (NASDAQ:APPF) Director Purchases $870,920.00 in Stock

AppFolio, Inc. (NASDAQ:APPF) Director Robert Donald Casey III bought 4,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of $217.73 per share, for a total transaction of $870,920.00. Following the transaction, the director now owns 27,856 shares of the company’s stock, valued at approximately $6,065,086.88. This represents a 16.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AppFolio Stock Up 4.8%

APPF stock opened at $228.44 on Wednesday. The business has a fifty day moving average of $214.99 and a two-hundred day moving average of $229.66. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 41.16 and a beta of 0.87. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The business had revenue of $217.70 million for the quarter, compared to analyst estimates of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. AppFolio’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $1.05 EPS. As a group, sell-side analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current year.

Institutional Investors Weigh In On AppFolio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. Advisors Capital Management LLC boosted its position in shares of AppFolio by 42.6% during the first quarter. Advisors Capital Management LLC now owns 17,221 shares of the software maker’s stock worth $3,787,000 after buying an additional 5,147 shares during the period. Capital Impact Advisors LLC purchased a new position in shares of AppFolio during the first quarter worth $5,819,000. Bayforest Capital Ltd boosted its position in shares of AppFolio by 41.9% during the first quarter. Bayforest Capital Ltd now owns 1,534 shares of the software maker’s stock worth $337,000 after buying an additional 453 shares during the period. Woodline Partners LP boosted its position in shares of AppFolio by 2.9% during the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after buying an additional 50 shares during the period. Finally, United Services Automobile Association purchased a new position in shares of AppFolio during the first quarter worth $311,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their price target on AppFolio from $210.00 to $205.00 and set an “underweight” rating for the company in a report on Friday, April 25th. DA Davidson raised AppFolio to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 price target on shares of AppFolio in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppFolio presently has an average rating of “Moderate Buy” and a consensus price target of $274.43.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.